We are a team of experienced accounting professionals who are empowered to be problem solvers. This means we are committed to proactive, exceptional customer service and to providing value-add solutions that help make life easier, bring dollars back to the bottom line, and propel the business forward. We truly live our tagline - face to face - both with our clients and each other.

Does your accountant understand the industry trends and drivers that affect your business? Can they go beyond the numbers to anticipate trends and advise you on various matters beyond the balance sheet or tax return? In order to serve our clients well, we pride ourselves on providing a depth of knowledge in several key industries. This means that you receive top quality service and can take advantage of best practices in your industry.

Each business has its own unique strengths and challenges, which often change throughout different phases. We are equipped with the knowledge and ability to deliver a broad cross-section of services to meet your changing needs, from the hands-on approach with payroll, bookkeeping, and in-house controller services to planning for succession with family wealth planning and mergers and acquisition guidance.

If you are interested in working with a firm that focuses on serving unique clients with a proactive and solution-oriented attitude, we invite you to consider Smith Leonard. Our firm is a place where we all enjoy working together and where our people are absolutely our biggest asset. We like to say that we have the best of both worlds – the resources of a national firm with the approachability of a local firm. We are Smith Leonard. Are you?

Alternative Gifts for the Kids and Grandkids

With the holiday season approaching, thoughts turn to presents for the family. Toys? They already have too many. Sweaters? Practical, but maybe a little too practical. Here are a few financial gifts that might fit the bill…

Contribute to a Section 529 education plan on behalf of your child or grandchild. This can be any amount (though often institutions will have a minimum of, say $200, to open an account) and you can contribute small amounts to it every month, for birthdays, holidays, or other special occasions. You can share the account information with other family members who could also contribute to the fund, if they so desired. The funds can be invested and will grow tax-free. If the account is used for education down the road, all the money will come out free of tax.

Do you have a child or grandchild that is working? As an alternative to spending money on the newest video game, consider opening a Roth IRA for them. This will help instill a “savings” mentality in them and begin that long road of accumulating funds for retirement. The funds invested inside the Roth will grow tax-free and can be withdrawn free of tax in retirement.

Here’s a unique gift. Consider sparking an interest in the stock market by opening a brokerage account with someone such as stockpile.com. Stockpile allows you to contribute some money to an account and then either you or your child/grandchild can use it to buy shares or fractional shares of stocks, mutual funds, etc. One share of AAPL perhaps? Or one-tenth a share of AMZN? 10 shares of VOO (a Vanguard S&P 500 index fund)? Buying small amounts of stock over the course of many years can add up to a significant nest egg.

These gifts likely won’t be as well-received as the latest electronic gadgets would be, but they will definitely be appreciated years down the road as they grow into something more substantial.

There are, of course, limitations on the dollar amount of gifts that can be given to a person in any one year, as well as limitations on how much can be contributed to a Roth IRA. If you have any questions on any of this, please contact your Smith Leonard Financial Planning or Tax Specialist.